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Investment Sales

Creekside Park I and II in Napa, California
CaliforniaInvestment SalesNewsWestern

Marcus & Millichap Arranges $47 Million Sale of Two-Property Portfolio in Napa, California

by Channing Hamilton

NAPA, CALIF. — Marcus & Millichap has arranged the sale of Creekside Park I and II, a two-property portfolio totaling 188 units in Napa. The original developer of the portfolio sold it to an undisclosed buyer for $47 million. Mitchell Zurich, Kirk Trammell, David Cutler and Joshua Johnson of Marcus & Millichap represented the seller and procured the buyer. Creekside Park was constructed in two phases in 1983 and 1985. The asset comprises 15 two-story residential buildings and two single-story amenities buildings on a 10-acre site. Units come in one-, two- …

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Investment SalesNew YorkNewsNortheast

Rosewood Realty Group Brokers Sale of 60-Unit Property in Manhattan

by Channing Hamilton

NEW YORK CITY — Rosewood Realty Group has negotiated the sale of a 60-unit property located at 560-562 W. 175th St. in Manhattan’s Washington Heights neighborhood. The community was originally constructed in 1924. The property rises five stories and includes two commercial spaces. Ben Khakshoor and Alex Fuchs of Rosewood Realty represented the buyer and seller in the deal. Both parties were private investors.

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ColoradoInvestment SalesNewsWestern

JTA Real Properties Divests of Three Property Portfolio in Aurora, Colorado, for $9 Million

by Channing Hamilton

AURORA, COLO. — JTA Real Properties LLC has divested of a portfolio of three properties in Aurora. Runt and Bro Laredo LLC acquired the portfolio for $9 million. Marc Lippitt, Phil Dankner, Justin Herman, Will McCauley and Elliott Polanchyck of Unique Properties / TCN Worldwide brokered the deal. The buyer plans to update and renovate the properties, which are located at 1377-1397 Laredo St. and 16415 E. 14th Place. The communities offer a mix of nine studios and 69 one-bedroom units.

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Investment SalesNewsTexas

Marcus & Millichap Arranges Sale of 195-Unit Portfolio in Bedford, Texas

by Channing Hamilton

BEDFORD, TEXAS — Marcus & Millichap has arranged the sale of a portfolio of two properties totaling 195 units in Bedford, northeast of Fort Worth. Al Silva and Ford Braly of Marcus & Millichap represented the seller and procured the buyer. The seller was a local private investor. The buyer was a Dallas-based partnership. Both parties requested anonymity. Avanti on Central and Avanti on Pipeline total 137 units and 58 units, respectively. Units come in one-, two- and three-bedroom floor plans.

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River Oaks District in Houston
Investment SalesNewsTexas

JLL Capital Markets Brokers Sale of 279-Unit Mixed-Use Community in Houston

by Channing Hamilton

HOUSTON — JLL Capital Markets has negotiated the sale of River Oaks District, a 663,408-square-foot mixed-use asset in Houston. JLL represented the undisclosed seller in the deal. The buyer was Fertitta Entertainment Inc. JLL’s Barry Brown, Erin Lazarus, Colby Mueck, Ryan West, Jeff Hollinden and Dustin Selzer advised in the transaction. River Oaks District includes a 279-unit apartment community, as well as 302,668 square feet of retail and 67,060 square feet of office space. The five-story Grey House Apartments serves as the multifamily component. The community offers amenities such as …

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CaliforniaFinanceInvestment SalesNewsWestern

BWE Negotiates $224.7 Million in Financing for Six-Property Portfolio in Orange County

by Channing Hamilton

ORANGE COUNTY, CALIF. — BWE has arranged $224.7 million in financing for a six-property portfolio in Orange County. Five properties in the portfolio were refinanced in order to secure equity for the acquisition of the sixth property, Regency Palms in Huntington Beach. Jason Krupoff and Doug Taylor of BWE’s Irvine office originated the loans on behalf of a long-term investor-operator of Orange County communities. One of BWE’s correspondent life companies provided $90.6 million in loan proceeds for three of the communities. The other three, including the acquisition, totaled $134 million through …

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BerkadiaIllinoisInvestment SalesMidwestNews

Berkadia Brokers $38 Million Sale of 662-Unit Town & Country in Urbana, Illinois

by Channing Hamilton

URBANA, ILL. — Berkadia has brokered the sale of Town & Country, a 662-unit property in Urbana. MF Capital purchased the asset from Monarch Investment and Management Group for $38 million. Town & Country was built in phases between 1970 and 2007 and is located at 1032 E. Kerr Avenue. The garden-style community was 98 percent occupied at the time of sale. The transaction also included an adjacent 52-unit self-storage facility.

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Newton Towers in Washington, D.C.
Investment SalesNewsNortheastWashington, D.C.

Greysteel Arranges $48.1 Million Sale of Four-Property Portfolio in Washington, D.C.

by Channing Hamilton

WASHINGTON, D.C. — Greysteel has negotiated the $48.1 million sale of a four-property portfolio in Washington, D.C. American Housing was the buyer, while the sellers were locally based real estate investors. Greysteel represented the sellers in the separate transactions, which were completed through D.C.’s Tenant Opportunity to Purchase Act. The portfolio includes Newton Towers, a 56-unit community located in the Columbia Heights neighborhood; The Park Regent, a 96-unit property in Mount Pleasant; an unnamed 28-unit building located at 3654 New Hampshire Avenue; and a 43-unit building located in Penn Quarter. …

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Investment SalesIowaMidwestNews

NAS Investment Solutions Purchases 120-Unit Broadway Apartments in Des Moines, Iowa

by Channing Hamilton

DES MOINES, IOWA — NAS Investment Solutions has purchased Broadway Apartments in Des Moines for an undisclosed price. Built in 2015, the property comprises 120 units across three stories. Units average 875 square feet in size. Broadway Apartments offers amenities such as an updated clubhouse, fitness center, playground, dog park and theater room. Adventureland Amusement Park, Prairie Meadows Racetrack & Casino and Outlets of Des Moines are within two miles of the property.

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The Deco at Victorian Square in Reno, Nevada
Investment SalesNevadaNewsWestern

Tower 16 Capital Partners Acquires The Deco at Victorian Square in Reno, Nevada, for $43 Million

by Channing Hamilton

RENO, NEV. — Tower 16 Capital Partners has acquired The Deco at Victorian Square, a 209-unit community in Reno, for $43 million. Jonathan Merhaut of Eastdil Secured represented the undisclosed seller in the deal. Lee Redmond and Greg Stampley of Eastdil arranged debt financing for the buyer. The Deco at Victorian Square was built in 2021. The community offers studio, one- and two-bedroom floor plans averaging 731 square feet in size. The new owner plans to implement nearly $1 million in upgrades, including modernized common areas, fitness center upgrades and landscaping …

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